Investment Strategy:

KBA is benchmarked to the MSCI China A Index which captures large and mid-cap representation across China securities listed on the Shanghai and Shenzhen exchanges (A-shares). Over the coming years, MSCI will complete the incremental inclusion of China A-shares into their Global Standard Indexes, including the MSCI Emerging Markets Index, which may potentially benefit the securities KBA holds today. The MSCI China A Index is designed for global investors accessing the A-share market using the Stock Connect framework and is calculated using China A Stock Connect listings based on the offshore RMB exchange rate (CNH).

KBA features:

  • Access to the Shanghai and Shenzhen Stock Exchanges - historically unavailable to U.S. investors - via Stock Connect Programs.
  • KBA's benchmark, The MSCI China A Index, reflects a 20% inclusion factor for China A large-cap, mid-cap, and eligible ChiNext shares within the MSCI Emerging Markets Index.
  • With over $1.8 trillion1 benchmarked to the MSCI Emerging Markets Index, full inclusion of Mainland Chinese equities could see significant flows into the securities KBA owns today.
  • Co-managed by Bosera Asset Management; headquartered in Shenzhen, over $127 billion in AUM, one of the largest Chinese asset managers by assets.2

1.) As of June 30, 2018, as reported on September 30, 2018 by eVestment, Morningstar and Bloomberg.

2.) Bosera data is from bosera.com as of 12/31/2018, retrieved on 3/31/2019.

Fund Details

Data as of 09/13/2019
TickerKBA
Primary ExchangeNYSE
CUSIP500767405
ISINUS5007674055
Net Assets$600,419,570
Total Annual Fund Operating Expense (Gross)0.80%
Total Annual Fund Operating Expense (Net)0.60%*
Inception Date3/4/2014
Distribution FrequencyAnnual

Daily Performance

Data as of 09/13/2019
Premium Discount Chart
NAV
Net Asset Value$31.68 
Daily Change0.60%
Price
Closing Price$31.87 
Daily Change0.66%

Performance History

Distributions
Cumulative %
Data as of: 08/31/2019
Fund NAVClosing PriceIndex
1 Month-3.83%-2.86%-3.66%
3 Month2.65%3.00%2.98%
6 Month-1.90%-2.03%-1.36%
Since Inception40.64%41.00%49.24%
Avg Annualized %
Data as of month end: 08/31/2019
Fund NAVClosing PriceIndex
1 Year10.99% 11.81%11.78%
3 Year2.68%2.49%1.53%
5 Year5.18%5.11%6.48%
Since Inception6.41% 6.46%7.56%
Avg Annualized %
Data as of quarter end: 06/30/2019
Fund NAVClosing PriceIndex
1 Year6.72%7.58%7.20%
3 Year5.94%6.14%4.62%
5 Year8.03%7.96%9.34%
Since Inception7.30% 7.39%8.43%

*Pursuant to the terms of an Expense Limitation Agreement, Krane Funds Advisors, LLC (“Krane”), the Fund’s investment manager, has contractually agreed to reduce its management fee to 0.58% of the Fund’s average daily net assets until August 1, 2020. The Expense Limitation Agreement may only be terminated prior to August 1, 2020 by the Board.

The Hybrid KBA Index consists of the MSCI China A Index from the inception of the Fund through October 23, 2014, the MSCI China A International Index from October 23, 2014 through December 26, 2017 and the MSCI China A Inclusion Index from December 26, 2017 to May 29, 2019 and the MSCI China A Index going forward.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

Sector Breakdown

Data as of: 2019/9/13

Market Cap Breakdown

Data as of: 2019/9/13
Data provided by ETF Research Center

Top 10 Holdings

Data as of 09/13/2019
Full Holdings .CSV
RankCompany Name% of Net AssetsTickerShares HeldMarket Value($)
1
KWEICHOW MOUTAI CO LTD-A
5.17%600519 C1198,44831,009,704
2
PING AN INSURA-A
3.74%601318 C11,711,88122,475,877
3
CHINA MERCHANTS BANK-A
2.72%600036 C13,259,92916,357,352
4
WULIANGYE YIBIN CO LTD-A
1.91%000858 C2613,36811,472,688
5
CHINA YANGTZE-A
1.55%600900 C13,476,5679,317,838
6
INDUSTRIAL BANK CO LTD -A
1.39%601166 C13,282,8628,350,571
7
SHANG PUDONG-A
1.32%600000 C14,638,3717,914,071
8
JIANGSU HENGRU-A
1.3%600276 C1698,8687,810,357
9
HANGZHOU HIKVI-A
1.21%002415 C21,477,3517,246,962
10
IND & COMM BK OF CHINA-A
1.12%601398 C18,521,2266,748,550

Holdings are subject to change.